💵 💵 💵 💵 💵 💵 💵 166,451,629 #PYUSD (166,475,160 USD) minted at #Paxoshttps://t.co/gODwLdUrWp ...

Core Insights - Bullish, a US cryptocurrency exchange, successfully raised $1.15 billion in its IPO, marking a historic precedent in the US IPO landscape by settling entirely in stablecoins, highlighting the integration of traditional finance and the crypto market [1] Group 1: IPO Details - The IPO was coordinated by investment bank Jefferies, which managed the issuance, exchange, and delivery of stablecoins [2] - The funds received included stablecoins pegged to USD and EUR, primarily Circle's USDC and EURC [2] - Bullish's CFO, David Bonanno, noted that stablecoins are one of the most promising innovations in the digital asset space [2] Group 2: Stablecoin Utilization - Bullish has relied on stablecoins for cross-border settlements in its daily operations, particularly benefiting from the efficiency of the Solana network [2] - The stablecoin custodian for this IPO was Coinbase, a competitor in the market [2] Group 3: Variety of Stablecoins - The transaction involved a diverse range of stablecoins, including USD1 related to Trump, Paxos' USDG, PayPal's PYUSD, Ripple's RLUSD, Agora's AUSD, and World Liberty Financial's USD1 [3] - Bonanno emphasized that collaboration with multiple stablecoin issuers not only facilitated the IPO but also showcased Bullish's infrastructure and liquidity advantages, positioning it as a key growth engine in the industry [3]

Read SnapShot Issue 219 now:📈 BTC surged to $124K while ETH hit $4.7K🤝 https://t.co/hcDm4vdblb secures new partners for its crypto treasury offering🇰🇷 South Korean investors shift from Big Tech to crypto stocks🏦 PYUSD issuer Paxos reapplies for a US trust bank charter— and more ...

💵 💵 💵 50,000,000 #PYUSD (50,025,746 USD) minted at #Paxoshttps://t.co/Qi51mqTgdo ...

Decentralized Finance (DeFi) - Hyperliquid captured over 79% of trading volume among decentralized perpetuals platforms [1] Layer 1 & Layer 2 (L1/L2) - Circle plans to launch a new L1 blockchain called Arc [1] - Paxos announced its application to become a national trust charter [1]

Milestones unlocked:🚀 Total cryptocurrency market cap reaches a new ATH of $4.1T👨‍🚀 Blue Origin now takes $BTC and other cryptos for spaceflights🏦 Paxos applies for Trust Bank license, paving the way for crypto banking#SmartDelivery https://t.co/hexj0n8xaL ...

🗞️ Need to catch up on the news? Here's our top 10 from today:🔸 Peter Thiel-backed crypto exchange Bullish increases IPO target to $1B valuation, up 60% from earlier goal, with backing from JPMorgan, Jefferies and Citigroup.🔹 Jack Dorsey's Block plans to offer a full-stack Bitcoin banking suite for small businesses.🔸 Bloomberg reports that Terraform Labs co-founder Do Kwon may plead guilty in a U.S. fraud case over the 2022 $40 billion TerraUSD collapse, with a change-of-plea hearing set for Tuesday.🔹 Forme ...

Industry Trend - Paxos joins Circle and Ripple in seeking a national trust charter, indicating a trend among stablecoin issuers [1]

Stablecoin Issuer Paxos Follows Circle and Ripple in Applying for US Banking License► https://t.co/mntbYW7fWt https://t.co/mntbYW7fWt ...

Paxos joins Ripple and Circle in pursuit of seeking national bank charter licenses https://t.co/cU8MrQDkIg ...